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Section 4 – Essay – Choose ONLY ONE of the essay questions below. (15 points)  

Section 3 – Short Discussion – each should be answered in 4 to 7 sentences. (5 points each)  

Which inhaled corticosteroid has the strongest safety data during pregnancy?

Which statement best differentiates COPD from asthma?

A 26-year-old woman with asthma reports using her albuterol inhaler four times per week. She awakens with coughing twice each month. Spirometry demonstrates an FEV1 of 88% predicted. Which therapeutic adjustment is most appropriate?

A patient taking theophylline develops nausea, tachycardia, insomnia, and serum drug concentration of 24 mcg/mL. What is the best interpretation?

A favorable direct-labor efficiency variance is created when:

Saracusa Inc., an accounting firm, applies overhead to jobs based on direct labor hours using a normal costing system.  Overhead was estimated to be $180,000, direct labor hours were estimated to be 12,000, and direct labor cost was estimated to be $225,000.  During the year, Saracusa incurred actual overhead costs of $185,000, actual direct labor hours of 13,000, and actual direct labor costs of $222,000.  By year-end, the firm’s overhead account balance before adjustment for under-applied or over-applied overhead was:   

Simone uses a predetermined overhead application rate of $9 per direct labor hour. A review of the company’s accounting records for the year just ended shows the following:  Overapplied manufacturing overhead: $10,000 Actual manufacturing overhead: $395,000 Budgeted labor hours: 50,000  Simone’s actual labor hours worked totaled:

The Tattersall Company’s budgeted income statement reflects the following amounts:  Sales Purchases SG&A Expenses January $120,000 $78,000 $24,000 February $110,000 $66,000 $24,200 March $125,000 $81,250 $27,000   Tattersall pays for all purchases in the month following the purchase.  Tattersall has $72,000 of Accounts Payable on January 1.      SG&A Expenses include $5,000 of depreciation and are paid for in the month incurred.    Tattersall’s budgeted cash disbursements in February are: